Volume-4 Issue-1, May 2024 – Indian Journal of Economics and Finance (IJEF)

A256804010524

IJEF Journal — Mon, 15 Jul 2024 12:26:59 +0000

The Indian Journal of Economics and Finance (IJEF) has ISSN 2582-9378 (online), an open-access, peer-reviewed, periodical half-yearly international journal, which is published by Lattice Science Publication (LSP) in May and November. The journal aims to publish high-quality peer–reviewed original articles in the area of Economics and Finance that covers International and Financial Accounting, Management and Cost Accounting, Tax, Auditing, Accounting Information Systems, Accounting Education, Environmental and Social Accounting, Accounting for Non-Profit Organisations, Public Sector Accounting, Corporate Governance: Accounting/Finance, Ethical Issues in Accounting and Financial Reporting, Corporate Finance, Investments, Derivatives, Banking and Capital Markets in Emerging Economies. #International and Financial Accounting #Management and Cost Accounting #Tax #Auditing #Accounting Information Systems #Accounting Education #Environmental and Social Accounting #Accounting for Non-Profit Organisations #Public Sector Accounting #Corporate Governance: Accounting/Finance #Ethical Issues in Accounting and Financial Reporting #Corporate Finance #Investments, Derivatives #Banking #Capital Markets in Emerging Economies #PhD ademic #Scopus #SCI #LatticeScience #Springer, #ScienceDirect #IEEE #Mendeley #Research #Scholarship #UGC #SSRN #LatticeScience #ESCI #Science #Journal #Conference #SSRN #PubLons #PhD #Academic #Scopus #SCI #LatticeScience #Springer, #ScienceDirect #IEEE #Mendeley #Research #Scholarship #UGC #SSRN #LatticeScience #ESCI #Science #Journal #Conference #SSRN #PubLons

Accountability and Economic Prosperity: Unveiling the Nexus Between Governance Responsibility and GDP Growth in Pakistan
Nosheen Mumtaz¹, Tuaha Nasim², Iqra Yamin³

¹Nosheen Mumtaz, School of Economics and Management, Anhui University of Science and Technology China.

²Tuaha Nasim, School of Economics and Management, Chang’an University Xi’ An Shaanxi, China.

³Iqra Yamin, School of Computer Science and Engineering, Anhui University of Science and Technology China.

Open Access | Editorial and Publishing Policies | Cite | Zenodo | OJS | Indexing and Abstracting
© The Authors. Published by Lattice Science Publication (LSP). This is an open-access article under the CC-BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/)

Abstract: This investigation employs quantitative approaches and utilises time series data from 1996 to 2019 to demonstrate the relationship between GDP metrics and the proportion of accountability in Pakistan. It examines the causal connection between administration and GDP growth, focusing on how accountability affects foreign direct investment (FDI), fixed assets, and technology. The research employs a bounds test evaluation to determine the long-term association between these parameters. Two steps comprise the examination method. Initially, stationarity is tested using typical Augmented Dickey-Fuller (ADF) tests. Furthermore, autoregressive distributed lag (ARDL) bound testing identifies causality. Fixed finances and technological advancements have significant positive linear associations, while foreign direct investment, along with the accountability proportion, have moderately favourable linear connections. Granger causality analyses imply that the factors might not have been causally related during the chosen period. Although the tests show no Granger causal links, the research suggests a relationship between foreign direct investment and fixed assets that may warrant further study.

Keywords: Accountability, GDP Growth, ARDL, Pakistan
Scope of the Article: Economics

Download PDF

The post A256804010524 appeared first on Indian Journal of Economics and Finance (IJEF).

B257904021124

IJEF Journal — Mon, 15 Jul 2024 09:28:18 +0000

Organization and Job Design: Vital Factors in promoting Enhancement of Organizational Structuresia
Radhika Kapur

Dr. Radhika Kapur, Pedagogy and Organizational Culture in Nursery Schools, Delhi University, New Delhi, India.

Abstract: The main objective of this research paper is to acquire an efficient understanding of organisation and job design. These are essential factors that need to be taken into account by all members to achieve organisational goals and lead to the upgradation of the overall structure of the organisation. The members, belonging to all job positions in the organisation’s hierarchy, are required to pay attention to carrying out the organisation’s functions. On the other hand, individuals in leadership positions are responsible for implementing all the necessary factors that facilitate carrying out job design in an effective manner. One of the essential factors that needs to be taken into account is that positivity needs to be reinforced in all aspects. Human resources are required to utilise their educational qualifications, competencies, and abilities effectively. Furthermore, they need to ensure that they are well-informed about job duties and the methodologies required to carry them out in a well-organised manner. One of the crucial aspects that needs to be taken into account is the utilisation of different types of pioneering methods and materials, which will facilitate carrying out job duties in a satisfactory manner and promote enrichment. Therefore, it is well understood that organisation and job design are vital factors in promoting the enhancement of organisational structures. The main concepts considered in this research paper are the objectives of the organisation and job design, factors affecting job design, and measures to be implemented for promoting job design enhancement.

Keywords: Enhancement, Information, Job Design, Job Duties, Methods, Organization, Skills, Workforce
Scope of the Article: Accounting

Download PDF

The post B257904021124 appeared first on Indian Journal of Economics and Finance (IJEF).

B2544113223

IJEF Journal — Mon, 15 Jul 2024 09:17:20 +0000

Education Infrastructure, Expenditure, Enrollment & Economic Development in Odisha, India
Swarna Prava Hota¹, Sanat Kumar Acharya²

¹Swarna Prava Hota, Assistant Professor (Economics), Fakir Mohan Autonomous College, Balasore, Odisha, India,

²Sanat Kumar Acharya, Head-Business Excellence, AMTEK Group Company, Jamshedpur, India.

Abstract: A key part of human capital is education. The development of educational infrastructure and economic growth are closely linked. Recognising the value of infrastructure, both the central and state governments have implemented several programs to upgrade the physical facilities at public schools. Infrastructure is a key component of enabling high-quality education. This study aims to investigate the relationship between economic development, spending on education for infrastructure development, and the quality of education. In 2019–20, the ratio of education department spending (revenue and capital account) to the gross state product (GSDP) is 2.84%. In 2020–21, the gross enrollment ratios (GER) for primary and secondary education are 97.4% and 84.5%, respectively. As part of the study’s methodology, analytical and empirical data from secondary sources were compiled. The multiple regression analysis demonstrates that the Gross Enrollment Rate (GER) of primary and secondary education, as well as the expenditure (Revenue and Capital) on education by education departments, is significant to economic growth. Here, the economic growth of Odisha as a whole is significantly influenced by the state’s educational system. The study’s findings indicate that public investment in infrastructure and education has a substantial impact on economic growth. It is recommended that school infrastructure be well-equipped to meet the current generation’s needs. The government should collaborate with the private corporate sector and industrial units to construct infrastructural facilities such as smart classrooms, computer and internet facilities, and laboratories in schools.

Keywords: Infrastructure, Economic Growth, Expenditure, JEL Classification Codes: H54, O4, H52
Scope of the Article: Economics

Download PDF

The post B2544113223 appeared first on Indian Journal of Economics and Finance (IJEF).

A256904010524

IJEF Journal — Mon, 15 Jul 2024 09:11:38 +0000

A Hedonistic Price Analysis of Sheep and Goat Traits: In Case of Ethiopia
Bedasa Terefa¹, Sena Amsalu², Nigusu Abera³, Gadisa Girma⁴

¹Bedasa Terefa, Department of Agricultural Economics, Salale University, Addis Ababa, Oromia Ethiopia.

²Gadisa Girma, Department of Agricultural Economics, Slale University, Addis Ababa, Oromia Ethiopia.

³Sena Amsalu Geyesa, Department of Agribusiness and Value Chain Management, Salale University, Addis Ababa, Oromia Ethiopia.

⁴Nugusu Abera, Department of Agricultural Economics, Addis Ababa, Addis Ababa, Ethiopia.

Abstract: Small ruminants play a significant role in the livelihood systems of rural Ethiopia, providing food, skin and wool, manure, and a substantial amount of income. They also help businesses manage the risk of crop failure and provide asset wealth security, allowing them to save money and fulfil their social and cultural roles. Purpose: This work investigates the significant social and productive variables that support the hedonic values of sheep and goat characteristics among Smallruminant farmers in Ethiopia. Research methodology: Based on revealed preferences, this study calculates the hedonic costs of characteristics observed in sheep and goats. The factors influencing the observed prices of sheep and goats are investigated using a hedonic pricing model. Transaction data came from the Oromia North Shewa Zone’s markets. Two groups of respondents were used in this study: market vendors and buyers of sheep and goats. A total of 360 transactions involving sheep and goats were surveyed for the hedonic analysis. A hedonic pricing model was fitted to identify the hedonic characteristics (traits) that are most impacting the implicit prices of sheep and goats. Both heteroscedasticity and OLS Regression analysis, which were consistent, were used for comparison. The empirical hedonic model’s results consistently show that the phenotypic characteristics of traded sheep and goats have a greater influence on price determination than the characteristics of buyers and sellers or other variables. The age of the buyer, the age of the animal, the medium and large body sizes, the excellent body condition, the extremely fat tails, the season of sale (holiday), and the color (red) were the sheep qualities that had the most significant influence on the prices paid in the examined marketplaces, according to the Heteroscedasticity-Consistent-3 standard errors. Conversely, the most critical factors influencing goat characteristics were age, sex, average and poor body condition, and medium and large body size. Recommendation: Thus, for the sustainable improvement of sheep and goats, breeding techniques and programs with a marketing component are essential, and small-ruminant farmers and consumers may profit from the intervention.

Keywords: Hedonic Pricing, Heteroscedasticity- Consistent, Sheep, Goat
Scope of the Article: Economics

Download PDF

The post A256904010524 appeared first on Indian Journal of Economics and Finance (IJEF).

A256704010524

IJEF Journal — Mon, 15 Jul 2024 09:04:15 +0000

Environmental and Legal Dimensions of Tax Compliance: the Moderation Effect of Technological Factors “Focused on SMEs” in Ghana
Simon Akumbo Eugene Mbilla

Simon Akumbo Eugene Mbilla, Department of Accounting, University of Education Winneba, Ghana.

Abstract: Purpose: The study examined how the environmental and legal framework improved SMEs’ tax compliance behaviour, aided by technology assistance. Methodology: A correlational descriptive research design, utilising a multi-stage sampling technique and a structured, closed-ended questionnaire, was adopted for the study. Data were collected from 353 SMEs in the largest administrative region with the largest SME population. Smart PLS 4 was used to test the hypothesis of the study. Findings: The findings revealed a robust and statistically significant connection between technological factors, the legal framework, and tax compliance, highlighting the pivotal role of technology in facilitating compliance. However, the exploration of the interactions between technological factors, environmental factors, and the legal framework provided valuable insights into their collective influence on tax compliance. Practical implication: The results offer practical guidance for policymakers, SMEs, and researchers and deliver theoretical insights for drafting tax compliance frameworks. Originality: The interaction effect of technology is investigated in this study, which is missing in the extant literature. Prior studies neglected the SMEs sector and focused on large corporate entities.

Keywords: Technology, Regulatory framework, SMEs, Environmental, Compliance, Tax
Scope of the Article: Environmental Accounting

Download PDF

The post A256704010524 appeared first on Indian Journal of Economics and Finance (IJEF).

A256404010524

IJEF Journal — Mon, 15 Jul 2024 08:55:32 +0000

A Study on the Economic Conditions on Stock Returns at Both the Firm and Industry Levels with Reference to Textiles Industry
Maheshwari Chikanal¹, Sowmya Sathish², Buvaneswari P³

¹Maheshwari Chikanal, Department of Management Studies, Raja rajeswari College of Engineering Bangalore, India.

²Sowmya Sathish, Department of Management Studies, Don Bosco Institute of Technology, Bangalore, India.

³Buvaneswari P, Department of Management Studies, Don Bosco Institute of Technology, Bangalore, India.

Abstract: The Indian textile industry holds a significant position within the country’s economic landscape. With a rich history and a diverse range of products, this industry plays a vital role in India’s economy. It encompasses various segments, including cotton, silk, wool, jute, and synthetic fibres, contributing substantially to employment and export earnings. The sector’s growth is fueled by a combination of traditional craftsmanship and modern technology, making it a dynamic force in both domestic and international markets [4]. This study employs descriptive research methodology, utilizing secondary data sourced from NSE India Ltd for analysis and insights. Stock market risk refers to the propensity of stock prices to fluctuate in response to changes in various market risk factors. This study examines the dynamics of risk and returns within volatile equity markets, with a particular emphasis on the heightened volatility in India’s textile industry. As a result, the Stock market is justified underground in terms of potential. This is due to increasing volume, market expansion & rapid growth in comparison to the cash market [5].

Keywords: RBI, Probability, Cryptocurrency, Bitcoin.
Scope of the Article: Economics

Download PDF

The post A256404010524 appeared first on Indian Journal of Economics and Finance (IJEF).

B257704021124

IJEF Journal — Wed, 26 Jun 2024 04:40:18 +0000

Boom or bust? A Comparative Analysis of Monetary Policy and Stock Market Performance in India Across Economic Cycles
Khushi Mittal¹, Jitender Bhandari²

¹Khushi Mittal, Department of Economics, Christ (Deemed to be University), Ghaziabad (Uttar Pradesh), India.

²Dr. Jitender Bhandari, Department of Economics, Christ (Deemed to be University), Ghaziabad (Uttar Pradesh), India.

Abstract: This study delves into the intricate relationship between monetary policy instruments and various sectors of the Indian stock market from 2011 to 2022. By Analyzing data encompassing significant policy shifts and economic events, including the Reserve Bank of India’s (RBI) transition towards inflation targeting and flexible exchange rates, the study aims to uncover the nuanced impacts of monetary policy on sectoral indices. Utilizing a Vector Autoregression (VAR) model, the study examines the dynamic interplay between key monetary policy instruments—Cash Reserve Ratio (CRR), Marginal Standing Facility Rate (MSF), Repo Rate, Reverse Repo Rate, and Treasury Bills—and ten diverse sectors represented in the Bombay Stock Exchange (BSE) indices. The findings reveal intricate sectorspecific responses to monetary policy adjustments, reflecting the complex interplay of economic dynamics and policy measures. While some sectors exhibit positive correlations with specific monetary instruments, others display negative associations, underscoring the diverse impacts of monetary policy on sectoral performance. The study highlights the significance of understanding these nuanced relationships for policymakers, investors, and market participants in navigating India’s evolving economic landscape.

Keywords: RBI, VAR, CRR, MSF, BSE
Scope of the Article: Capital Markets in Emerging Economies

Download PDF

The post B257704021124 appeared first on Indian Journal of Economics and Finance (IJEF).

A257404010524

IJEF Journal — Wed, 29 May 2024 06:22:47 +0000

Exploring Wagner’s Law in India: An Empirical Study of Economic Growth and Public Expenditure
Jasneet Kaur Wadhwa¹, Srividya Subramaniam²

¹Dr. Jasneet Kaur Wadhwa, Associate Professor, Department of Economics, SGTB Khalsa College, University of Delhi, New Delhi India.

²Dr. Srividya Subramaniam, Associate Professor, Department of Economics, SGTB Khalsa College, University of Delhi, New Delhi India.

Abstract: In this research paper, we test the connections between public spending and economic growth in India by employing annual data from 1981-82 to 2019-20. We examine whether there is a long-run relationship between public expenditure and economic development, and then attempt to understand the direction of causality between them by using six versions of Wagner’s law, along with an augmented version. The paper employs tests of stationarity, cointegration, Granger causality, and the vector error correction model for analysis in all versions. Results from these tests show that only some versions provide support for validating Wagner’s law in India over the sample period studied.

Keywords: Economic Growth; Public Spending; Cointegration; Granger Causality; India.
Scope of the Article: Public Sector Accounting

Download PDF

The post A257404010524 appeared first on Indian Journal of Economics and Finance (IJEF).

A257104010524

IJEF Journal — Wed, 29 May 2024 06:14:55 +0000

Examining Global Resource Mobilization: Strategies and Hurdles in Accessing the International Capital Market
Subhajit Chakraborty¹, Susmita Biswas²

¹Dr. Subhajit Chakraborty, Department of Law, St. Xavier’s University, Xavier Law School, West Bengal (Kolkata), India.

²Susmita Biswas, Research Scholar, Department of Law, Seacom Skills University, West Bengal (Kolkata), India.

Abstract: The role of finance is indispensable for business entrepreneurs as it fuels both fixed and working capital, driving growth and operational efficiency. Financial decisions are crucial for directing business growth from its inception through various phases. Corporate finance plays a pivotal role in exploring alternative methods to finance both fixed and working capital needs. Capital markets, including domestic ones such as India’s Securities and Exchange Board-regulated markets and international markets, serve as vital platforms for businesses to secure funding and ensure smooth operations. Effective corporate governance, shareholder wealth maximization, regulatory compliance, profitable project funding, and global brand recognition are key goals for corporations to sustain and thrive. This paper aims to explore the role of Overseas Depositories in international capital markets, highlighting their contributions to funding corporations globally. It will also discuss the significance of two-way fungibility in trading shares and depository receipts across borders, as well as how overseas depositories facilitate corporate finance raising. Additionally, the paper will examine the trading dynamics of American and Global depository receipts visà-vis shares in the international capital market context.

Keywords: Mobilization, Depository, Fungibility, Sponsored, Equity.
Scope of the Article: Capital Markets in Emerging Economies

Download PDF

The post A257104010524 appeared first on Indian Journal of Economics and Finance (IJEF).

A256604010524

IJEF Journal — Wed, 29 May 2024 06:06:53 +0000

Strengthening Financial Resilience: A Holistic Approach to Combatting Fraud
Amit Rohilla

Dr. Amit Rohilla, Assistant Professor, Department of Commerce, Gargi College (University of Delhi), New Delhi, India.

Abstract: Financial fraud poses a persistent threat to individuals, businesses, and the broader economy, requiring a proactive and collaborative response. This paper navigates the intricate landscape of financial fraud, addressing its various dimensions and offering a comprehensive strategy to strengthen defences. The overarching theme revolves around the critical nexus of innovation and entrepreneurship in the financial sector. Recognizing the significance of these elements in shaping the contemporary business environment, the paper elucidates the key challenges and opportunities they present. The literature review provides a thorough examination of existing studies on innovation and entrepreneurship, identifying gaps and areas for further research. Major theories, frameworks, and models relevant to the theme are explored, supplemented by insightful case studies that showcase successful endeavours in these domains. A meticulously crafted conceptual framework integrates essential concepts related to innovation and entrepreneurship. This framework not only clarifies key terms but also informs the subsequent analysis by establishing theoretical underpinnings. The research methodology section delineates the chosen approach, whether qualitative, quantitative, or a mix of both. It justifies the selected methods, outlines data collection techniques, sampling strategies, and acknowledges any inherent limitations. Moving into the heart of the paper, the analysis and findings section presents the results of the research or study. Visual aids, such as charts or graphs, augment the discussion by offering a visual representation of key findings. These findings are then dissected and connected back to the conceptual framework and the literature reviewed. In the subsequent discussion section, the results are interpreted within the broader context of innovation and entrepreneurship. The practical implications for businesses, policymakers, and researchers are examined, addressing unexpected results and limitations encountered during the study. Possible avenues for future research have also been discovered. The concluding section ties together the main points, revisits the initial objectives, and emphasizes the paper’s key contributions to the field. The conclusion doesn’t merely recapitulate; it offers practical insights and recommendations derived from the collective insights gained throughout the paper. In essence, this paper provides a roadmap for strengthening defences against financial fraud, offering suggestions for businesses, policymakers, and regulatory bodies. By embracing collaboration, technological innovation, and prioritizing awareness, the strategies outlined aim to contribute to a more secure financial landscape.

Keywords: Emerging Technologies in Fraud Detection and Prevention, Financial Fraud, Fraud Prevention, Financial Resilience, Innovation, Personal Finance, Regulatory Framework.
Scope of the Article: International and Financial Accounting

Download PDF

The post A256604010524 appeared first on Indian Journal of Economics and Finance (IJEF).